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EURS and the State of the Stablecoin Race

In 2022, euro-denominated digital assets have gained in popularity and many experts believe that the formation of this new sector will against all odds become a cornerstone for the future economy. 

The stablecoin economy is worth roughly $150+ billion today, with euro-backed stablecoin issuance experiencing a drastic increase of 1,683% from $31.9 million worth of tokens on January 3, 2020, to today’s almost $600 million.

Whilst most of the emerging stablecoin economy’s value is based on tokens backed by the U.S. dollar, Euro is still the leading currency by transaction value having closed a 5% gap against the USD within just 3 years, according to ECB data. 

The global mentality of crypto investors is hard to beat, though – the world continues to count wealth in dollars. 

The Pinnacle of the Stablecoin Sector

We have chosen the euro as an underlying currency of our asset by being able to predict specific trends. The times of euro correction against the dollar happen occasionally, but it’s all cyclical. There are periods of USD depreciation across other currencies now. It is the opposite going on for a while. 

Over time, STASIS has become one of the largest non-USD stablecoin issuer with EURS products reaching a whopping $5B+ of transferred value up to date. Currently, it ranks as a top-10 stablecoin globally with a vast international user base. 

What does it take to be the pinnacle of the stablecoin sector? We arrived first and have continued to be the spearheads in the euro-based stablecoin area since 2017. Among the dozen digital asset products, going hand-in-hand within the tightly competitive digital soil, EURS proudly stands as the largest and most transparent product with substantial support from its global community. 

There’s more than a half-billion worth of euro-based stablecoins in existence today, or approximately $569 million as of July 31, 2022. However, despite the drastic increase over the last two years, euro-pegged stablecoins are just a drop in the ocean compared to the entire stablecoin economy as euro-backed crypto assets today only represent 0.37% of the $153 billion stablecoin economy. 

Crypto market is a highly competitive market and it takes much legal, financial and technological expertise to stand out and differentiate. Today, EURS is the only euro-backed stablecoin that enables multiple distributed ledgers and unique features not present in other assets. It combines the benefits of blockchain technology with the reputation and relative stability of the euro. Most cryptocurrency holders are subject to significant volatility and counterparty risk. EURS mitigates these risks by letting users hold a stable digital asset, transparently backed by euro reserves.

Being transparent, makes investors confident that their digital assets are fully backed by the appropriate collateral such as daily account statements, monthly verifications by BDO Malta, quarterly audits by BDO Malta, and on-demand verification for an onboarded entity.

In addition, EURS fully supports the multichain direction of market development. Ethereum has been and continues to be the base layer of STASIS-issued products. However, we see vast potential in exploring additional emerging chains and ecosystems. STASIS has signed agreements with Algorand, Ripple, XDC and other companies so our multi-chain infrastructure will advance by leaps and bounds in the coming years.

Next, EURS is the DeFi-centric stablecoin as it successfully competes in the DeFi corner with the biggest euro-denominated staking pools. Being the asset that provides lucrative yields in decentralized finance protocols, it continues to harness more percentage out of stablecoin pools on Curve and other popular protocols, becoming a more appealing asset for those who wish to capitalize in a newly emerging field.  One can leverage EURS fungibility for on/off ramp and trading in the Decentralized Finance ecosystem.

Willingness to Go the Extra Mile Defines Success

Nowadays, it’s not always common to evaluate risks. But since more and more users climb this learning curve, understanding is growing. The general user may not be aware of the number of risks involved when entering the newly-emerged cryptocurrency territory. There are more than a dozen euro stablecoins on the market nowadays. By choosing EURS, you can be sure that you are protected from the usual pitfalls and risks squared. You choose digital euro, unchained from additional risk exposure. 

Five years ago, having forecasted the trend, the STASIS team decided to dive in and make a quantum leap into the striving digital asset realm by building the euro-stablecoin product. And it was not a leap of faith. The effort resulted from extensive research and conviction to stay ahead of the market. Nowadays, with the emergence of dozens of other euro-stablecoin products and the downfall of a bunch of USD-backed ones, we see that our bet was correct. The STASIS team will continue to develop EURS further as well as build more ambitious plans behind the scenes to ensure that we remain paramount in the cryptocurrency realm.

Disclaimer:

The opinions expressed in this article is solely of the author’s. They do not purport to reflect the opinions or views of the TheNewsCrypto or its members. TheNewsCrypto team encourages all to do their research before investing.

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